Flat Tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.

Read more about Flat Tax:  Requirements For A Fully Defined Schema, Recent and Current Proposals

Famous quotes containing the words flat and/or tax:

    “They are not flat surfaces
    Having curved outlines.
    They are round
    Tapering toward the top.”
    —Wallace Stevens (1879–1955)

    “I come into the peace of wild things
    who do not tax their lives with forethought
    of grief.”
    —Wendell Berry (b. 1934)